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Pandemic’s Uneven Impact Highlight California Budget Issues

SACRAMENTO, Calif. (AP) – California Gov. Gavin Newsom is preparing to reveal his state budget proposal. Newsom’s first budget included a $21.5 billion surplus. His second budget had a $54.3 billion shortfall. This year, Newsom must navigate a coronavirus pandemic that has had an uneven impact on the state’s economy. California’s revenue collections have increased despite the pandemic because the state’s tax code relies on wealthy earners who have been less affected. The result is what the nonpartisan Legislative Analyst’s Office calls a one-time budget windfall of about $26 billion. Newsom is scheduled to reveal his proposal at 11 a.m. Friday.